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Non-Tech : American Banknote Holographics, Inc.(ABH)
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To: caly who wrote (8)1/26/1999 5:36:00 PM
From: Mahatmabenfoo  Read Replies (1) of 51
 
Eeek, another huge percentage drop.

There's still a hope it is an overreaction. A 10% overstatement of profits for '96 and '97 isn't so terrible. What "substantial" means for 1998 will be interesting tho'.... as will the long term news of how many ABH heads will roll over this.

- Charles

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ELMSFORD, N.Y., Jan 25 (Reuters) - Security products maker American Bank Note Holographics Inc., which is being sued by stockholders alleging securities violations, said Monday its net income for 1996 and 1997 was overstated by 10 percent and it will restate interim financial statements for 1998.

The company said that based on currently available information, it expects revenues and net income for 1998 will be substantially lower than for 1997.
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